BUS604: Innovation and Sustainability

• What is the interplay between governments and businesses from the local to global levels as it relates to developing sustainability policies and practices?
• How do frameworks like the United Nations Sustainable Development Goals (SDGs) unify efforts for organizations to be more sustainable?
• How do certifications like LEED (Leadership in Energy and Environmental Design) support businesses in becoming more sustainable?
  

Sustainability is essential to societal and planetary wellbeing. Since we all share the same planet, sustainability is in the interest of all citizens. Therefore, it makes sense that governments, whose role is to serve and protect people, will actively make policies and shape business practices. Likewise, it's in the interest of businesses to take interactive and proactive responses by participating in the policymaking process by offering valuable insights and leading the way in best practices.

Frameworks like the United Nations Sustainable Development Goals (SDGs) are based on decades of experience helping nations develop economically and responsibly. In 2015, the 17 goals were adopted by all member states of the UN, providing a roadmap for governments, businesses, and individuals to follow for achieving global social and environmental sustainability targets by the year 2030. Certifications like LEED, offered by the United States Green Building Council (USGBC), are another way to promote widespread sustainability practices.

To review, see Government, Public Policy, and Sustainable Business, Implementing the U.N. Sustainable Development Goals (SDGs), and The Growing Demand for Transparency in All Building Spaces.

2b. Appraise the results and impacts of innovation combined with sustainability policies and practices such as product improvements and economic outcomes 

• What are real-world examples of businesses that have transformed products and processes to be both sustainable and profitable?
• How can organizations effectively measure their impact on social and environmental sustainability?
• How can sustainability policies and practices lead to competitive strengths?
  

Organizations like Unilever offer examples of how companies can align their purpose, strategy, and products to be both sustainable and profitable. Research reports crafted by voices from government, business, educational institutions, and civil society have demonstrated the business case for achieving the SDGs, also known as the Global Goals. Innovative inter-organizational collaborations between the public and private sectors have also created better outcomes for people and the planet.

Sustainable business practices support building stronger brands and improving workplace culture and employee retention. A continuing challenge is effectively measuring environmental, social, and governance (ESG) performance and bringing greater alignment across various impact reporting frameworks.

To review, see:

• Global Goals That Work
• Business and Sustainable Development Commission Report
• Case Study: A Vision for Unilever
• Creative Community Spaces

2c. Recognize social and environmental ethical issues, such as equity, wellbeing, production and consumption, arising from innovation and sustainability policies and practices 

• What leadership qualities and characteristics are desirable for supporting responsible and successful sustainability outcomes?
• How can businesses connect with citizens and local knowledge to help create positive change?
• How can footprints help a company understand its ethical issues?
  

Traditional views by government and business leaders held that resource constraints caused a tradeoff between economic output and societal and environmental protection. Today, leaders who promote innovation and sustainability believe they can successfully add value to societal, environmental, and financial well-being without tradeoffs. Governmental and business leaders must work together to invest in programs that support long-term positive change for all stakeholders, including establishing processes that engage local citizens in identifying issues and solving problems. Desirable leadership qualities promote cooperation and collaboration across sectors and the conviction to follow through with change initiatives that can take many years to achieve.

Footprints are a way companies can understand their positive and negative impacts on society and the environment. Earth Overshoot Day reminds us that collectively, we are demanding 1.6 times the Earth's available supply of natural resources each year, which is unethical and unsustainable.

To review, see:

• The Tradeoff Between Economic Output and Environmental Protection
• The Responsible Society
• The Footprint of Companies

Unit 2 Vocabulary

This vocabulary list includes terms you will need to know to successfully complete the final exam.

• Earth Overshoot Day
• ESG
• footprints
• Global Goals
• interactive response
• LEED
• Sustainable Development Goals